The following selected accounts from Highview Electronics Corporations general ledger are presented below for the year ended December 31, 2018:

Accounts receivable		$277,000
Accumulated depreciationequipment		724,000
Advertising expense		57,000
Common shares		263,000
Cost of goods sold		1,061,000
Depreciation expense		125,000
Dividends declared		162,000
Equipment		1,350,000
Freight out		27,000
Income tax expense		72,000
Insurance expense		21,000
Interest expense		63,000
Interest revenue		31,000
Inventory		89,000
Prepaid expenses		33,000
Rent revenue		22,000
Retained earnings		570,000
Salaries expense		762,000
Sales		2,598,000
Sales discounts		19,000
Sales returns and allowances		42,000
Unearned revenue		18,000

Highview Electronics Corporation Income Statement (Single-step) Highview Electronics Corporation Income Statement (Multiple-step)